In a recent transaction on March 15, Ryan D. Werner, the Senior Vice President and Chief Accounting Officer of Riot Platforms, Inc. (NASDAQ:RIOT), sold 35,000 shares of the company's common stock. The shares were disposed of at prices ranging from $11.15 to $11.1602, with the total value of the sale amounting to approximately $390,250.
The sale was executed in multiple transactions at varying prices, and the reported figure represents the weighted average price per share. Following the sale, Werner's remaining stake in the company consists of 462,759 shares of Riot Platforms, Inc.
Riot Platforms, Inc., formerly known as Riot Blockchain (NASDAQ:RIOT), Inc., operates within the finance services sector and has a focus on crypto assets. The company is incorporated in Nevada and has its business address in Castle Rock, Colorado.
Investors often monitor the buying and selling activities of company insiders to gain insights into the company’s performance and value. The transactions of executives can be a reflection of their confidence in the company's future prospects.
The details of the transaction were made public through a Form 4 filing with the Securities and Exchange Commission.
InvestingPro Insights
As investors digest the news of Senior Vice President Ryan D. Werner's recent stock sale in Riot Platforms, Inc. (NASDAQ:RIOT), it's vital to consider the company's financial health and market performance to understand the broader context. According to InvestingPro data, Riot Platforms holds a market capitalization of approximately $2.81 billion. Despite a challenging environment for crypto assets, the company has managed to maintain a positive revenue growth rate, with an 8.3% increase over the last twelve months as of Q4 2023 and an even more impressive quarterly revenue growth of 31.03% in Q1 2023.
However, not all indicators are positive. The company's gross profit margin stands at a low 9.39%, and with an adjusted P/E ratio of -56.21, the market currently values Riot Platforms with skepticism regarding its near-term earnings potential. Additionally, the price of Riot Platforms' shares has seen significant volatility, as evidenced by a 30.86% decrease over the last month and a 32.58% drop over the last three months, though it has experienced a 29.71% increase over the past year.
InvestingPro Tips suggest that while Riot Platforms holds more cash than debt, which is a positive sign of liquidity, analysts do not anticipate the company will turn a profit this year. The company's stock price movements have been quite volatile, and the valuation implies a poor free cash flow yield. For investors looking for more in-depth analysis and additional insights, there are 14 more InvestingPro Tips available for Riot Platforms, which can be accessed at https://www.investing.com/pro/RIOT. To get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, use the coupon code PRONEWS24.
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